Banking Law

  • Michael Jordan, laughing off the fact that millennials don't know who he is.  (Photo by Scott Halleran/Getty Images)

    Uncategorized

    Morning Docket: 08.12.15

    * Michael Jordan was present during jury selection for his case against defunct supermarket Dominick’s, but potential jurors didn’t seem the least bit fazed. In fact, just a single one of them considered the basketball star their “personal hero or idol.” Ouch. [Chicago Tribune]

    * Maryland Law will be offering a very topical “Law and ______” class this semester, entitled “Freddie Gray’s Baltimore: Past, Present and Moving Forward.” Students enrolled in the course will be asked to create fixes for social problems. This’ll be interesting. [WSJ Law Blog]

    * According to the GC of Fannie Mae, Biglaw’s profit structure is broken, but the solution he proposes to the problem may not sit well with associates who are slaves to the billable hour — but only if they care about their hourly rates. [Big Law Business / Bloomberg BNA]

    * Unlike most of his colleagues, Larry Sonsini of Wilson Sonsini didn’t immediately join a brand name Biglaw firm after he graduated from law school. Instead, he created his own brand name Biglaw firm, so that worked out well. Your own mileage may vary. [Forbes]

    * It seems that New York City’s Responsible Banking Act is unconstitutional because it conflicts with existing state and federal banking laws. To be fair, between dueling mayoral policies, this law was completely FUBARed from the get go. [DealBook / New York Times]

    31 Comments / / Aug 12, 2015 at 9:02 AM
  • Richard_M._Nixon,_ca._1935_-_1982_-_NARA_-_530679

    Non-Sequiturs

    Non-Sequiturs: 08.10.15

    * Interesting… audio of Richard Nixon’s only oral argument before the Supreme Court. [Concurring Opinions]

    * Aaron Hernandez’s lawyers want his murder indictment tossed. Tom Brady is relieved he now has the second-dumbest Patriots legal challenge. [NECN]

    * There’s a robust piranha-smuggling operation in the United States. That’s… Sharknado levels of terrifying. [Legal Juice]

    * In between ripping Rosie O’Donnell, the GOP “debate” actually talked a little about the Constitution. [Dorf on Law]

    * New York’s responsible banking law is unconstitutional. Banks rejoice. [Reuters]

    * The New York Times broached the subject of “resting bitch face.” How do lawyers avoid the phenomenon? [Attorney at Work]

    * God Donald Trump is entertaining. [What About Clients?]

    * Why aren’t the poor a suspect class? [PrawfsBlawg]

    17 Comments / / Aug 10, 2015 at 5:11 PM
  • H. Rodgin Cohen, speaking at Bloomberg BNA's  inaugural Big Law Business Summit.

    Biglaw, Conferences / Symposia, Technology

    5 Insights On Representing The Banking Industry, From Rodge Cohen Of Sullivan & Cromwell

    A leading lawyer to the financial services industry, H. Rodgin Cohen of Sullivan & Cromwell, shares some of his wisdom.

    25 Comments / / Jul 20, 2015 at 3:02 PM
  • US china flags

    China

    The China Bank Switch Scam

    Be careful out there. Your clients may lose a lot of money thanks to this scam.

    / Apr 20, 2015 at 10:07 AM
  • will-work-for-food

    Morning Docket

    Morning Docket: 04.14.15

    * Georgetown Law is teaming up with DLA Piper and Arent Fox to open a low bono law firm. The firm will provide two things for those in need: affordable legal services and jobs to bolster GULC’s employment stats. [Am Law Daily]

    * Michigan Law will provide summer funding for all of its 1Ls for law-related internships — but there’s a catch. The cash is a loan, and students may have to pay it back if they earn Biglaw money the following summer. [Michigan Law]

    * Judge Jed Rakoff sounded off on the judicary’s problem with mass incarceration at a recent conference at Harvard Law, calling for his colleagues and bar associations across the nation to take a stand for the accused with a gentler justice system. [Big Law Business / Bloomberg BNA]

    * “It’s positive news. I think it indicates there’s some slight opening of financial services to marijuana-related businesses.” Some banks have finally decided to provide services to weedpreneurs, but others are leaving marijuana moguls high and dry. [WSJ Law Blog]

    * “Students should seriously consider going to law school in a state where they plan to practice law.” Unless you like wasting your time, you’d do well to listen to this advice, even if you’re going to a school with national name recognition. [U.S. News & World Report]

    42 Comments / / Apr 14, 2015 at 9:05 AM
  • Hilary Bricken

    Banking Law, Marijuana

    Marijuana Banking: Big Problems With Stashing The Cash

    Another significant hurdle to running a marijuana business — even if it’s legal in your state.

    / Feb 23, 2015 at 4:20 PM
  • Alcohol

    Banking Law, Drinking, DUI / DWI, Events, Football, Jed Rakoff, Law Schools, Non-Sequiturs

    Non-Sequiturs: 11.04.14

    * If you’re a law student in Philadelphia or D.C., come hang out with us this week. RSVP to tomorrow’s Philly event here. [Above the Law]

    * Or RSVP to Thursday’s D.C. trivia night here. [Above the Law]

    * Judge Jed Rakoff explains exactly why innocent people plead guilty for all those people who don’t believe it. Well, the people who don’t believe it probably don’t read the New York Review of Books, but maybe John Oliver will have Judge Rakoff on so this can go viral. [The New York Review of Books]

    * The sex, lies (about polygamy), and videotape article from this morning raises another important issue I’d missed: the heightened stigma faced by women with substance abuse issues. [Law and More]

    * 10 thoughts on business development. Don’t do what the guy in the last story did. [Medium]

    * Adjunct law professor threatens to quit. Law school dean surely replies, “You must not know ’bout me.” [Chronicle of Higher Education]

    * Georgia state legislature has the novel idea to punish the people who exploit student athletes as opposed to only the athletes themselves. Too bad that doesn’t apply to the universities. [The Legal Blitz]

    * Five years after New York State required banks to negotiate in “good faith” with homeowners facing foreclosure, the Second Department approved a sanction for banks that ignore this obligation. The 2009 law created the “good faith” obligation but contained no remedy for violations. That left trial judges without guidance as to how to proceed when faced with an intransigent bank. [WiseLaw NY]

    10 Comments / / Nov 4, 2014 at 5:02 PM
  • u.s. news rankings RF

    Banking Law, Gay, Job Searches, Law Schools, Money, Morning Docket, Rankings

    Morning Docket: 11.03.14

    * Two women will be making their oral argument debuts before the Supreme Court this week. One of them will be arguing two cases in the span of a month, which is absolutely insane. [National Law Journal]

    * Big banks are putting aside big money for legal costs: Citi squirreled away an extra $600 million, RBS is ready to hand over $600 million, and Barclays has $800 million on tap. [DealBook / New York Times]

    * In preparation for the prestige frenzy come March 2015, law schools will have about three weeks to complete their survey information for the annual U.S. News law school rankings. [Morse Code / U.S. News]

    * The controversial, anti-gay Trinity Western University Law School may not be able to open after all. The B.C. Law Society just voted to overturn its prior approval of the school’s accreditation. [CBC News]

    * It seems the United States isn’t the only place where recent law school graduates are struggling to find jobs. In Japan, newly licensed lawyers can’t find work either. Saitei, my friends, saitei. :( [Japan Times]

    24 Comments / / Nov 3, 2014 at 9:03 AM
  • This oil law job is rigged.

    Banking Law, Biglaw, Crime, Eric Holder, Federal Government, General Counsel, In-House Counsel, Law Schools, LSAT, Morning Docket

    Morning Docket: 10.30.14

    * Will we have a nominee for Attorney General Eric Holder’s position “shortly after the election”? Per a White House spokesperson, our lame-duck Congress might just get a chance to confirm America’s next top lawyer. [WSJ Law Blog]

    * In the wake of an associate general counsel’s suicide last week, Deutsche Bank has taken steps to further separate its legal and compliance teams to tamp down on its “legal and regulatory headaches.” Well then. [Corporate Counsel]

    * David Tresch, Mayer Brown’s former chief information officer, was sentenced to 27 months in prison for his role in bilking the firm out of $4.8 million. Hey, it could’ve been worse, says his lawyer, whose client got off relatively easily. [Am Law Daily]

    * Thanks to the rise of the “energy phenomenon,” law schools have started to offer various classes focusing on oil and gas law in the hopes of making their graduates employable. Good luck with that. [Times Online]

    * If you plan to retake the LSAT, you need to study smarter. Don’t sweat it too much, though — it’s not like you’ve got a lot of competition trying to apply to law school. [Law Admissions Lowdown / U.S. News]

    16 Comments / / Oct 30, 2014 at 9:05 AM
  • depressed head in hands

    Banking Law, Deaths, General Counsel, Suicide, Wall Street

    Big Bank’s Associate GC Found Dead In Apparent Suicide

    The former SEC and Skadden lawyer was the second Deutsche Bank executive to commit suicide this year.

    / Oct 28, 2014 at 12:09 PM
  • Supreme Court SCOTUS photo by David Lat

    Art, Banking Law, Canada, Gay, Morning Docket, Politics, SCOTUS, Sexual Harassment, State Judges, Supreme Court, United Kingdom / Great Britain, Wall Street

    Morning Docket: 10.28.14

    * Some observers do not appreciate the U.S. Supreme Court’s recent Delphic pronouncements on a slew of hot-button issues. [New York Times]

    * The New York Court of Appeals does international banks a solid — but is it bad policy? [Reuters]

    * Fired Canadian radio host Jian Ghomeshi hires Dentons to sue CBC, which dismissed him over allegations of sexual misconduct. [American Lawyer]

    * Is post-Citizens United money polluting judicial elections? [New York Times via How Appealing]

    * An Englishman sues Sotheby’s, alleging that the auction house negligently failed to inform him that a painting he sold through Sotheby’s was by Caravaggio and worth millions. [BBC]

    * If you’re a lawyer looking for extra income, check out Avvo’s new service, which offers consumers on-demand legal advice for a fixed fee. [Law Sites via ABA Journal]

    * Is it reversible error for a judge to refuse to ask voir dire questions related to sexual-preference prejudices? [Southern District of Florida via How Appealing]

    17 Comments / / Oct 28, 2014 at 9:09 AM
  • lawyer cash grab

    Banking Law, Biglaw, In-House Counsel, JPMorgan Chase

    Biglaw Firm Figures Out A Way For Clients Not To Pay For First-Year Associates

    Would you want to be a part of a program like this if you could?

    17 Comments / / Sep 16, 2014 at 1:06 PM
  • Save time and money – shop online

    Banking Law, Money, Quote of the Day, Wall Street

    Should Big Trouble For Big Banks Generate Big Legal Bills? Not Necessarily

    Two observers of the legal industry argue that when it comes to legal spending, sometimes less is more.

    5 Comments / / Sep 5, 2014 at 2:44 PM
  • scam alert

    Banking Law, China, International Law

    How To Avoid THE China Bank Fraud Scam

    Are you aware of the latest scam preying upon foreign companies that purchase from Chinese suppliers? Columnist Dan Harris has the details.

    10 Comments / / May 5, 2014 at 10:14 AM
  • iStock_000024600148XSmall-RF

    Banking Law

    Bank Gushes About 4Q Profits — These SEC Filings Sound A Lot More Ominous

    When a lawyer hears a company tout good financial news, it’s time to scour the latest filings for all the warts.

    3 Comments / / Jan 16, 2014 at 3:34 PM
  • as the world turns as the weil turns

  • Sleeping with Documents

    American Bar Association / ABA, Banking Law, Biglaw, China, Contract Attorneys, Crime, Document Review, Job Searches, Law Schools, Lawyerly Lairs, Morning Docket, Partner Issues, Public Interest, Real Estate, Sex Scandals, Wall Street

    Morning Docket: 12.10.13

    * Stan Stallworth, the Sidley partner accused of sexual assault, has hired a prominent criminal defense attorney to represent him in the case while the firm stands by its man. [Am Law Daily]

    * Wall Street regulators are considering approval of a formidable version of the Volcker Rule that would ban banks from proprietary trading. Voting occurs later today. [DealBook / New York Times]

    * Skadden Arps has asked a judge to toss an FLSA lawsuit filed against the firm by one of its document reviewers. Aww, silly contract attorney — there’s no way you’re getting overtime pay. [Law360 (sub. req.)]

    * Weil Gotshal is still leaking like a sieve. This time, Bruce Colbath, a partner from the firm’s New York office, defected to the Antitrust and Trade Regulation practice group at Sheppard Mullin. [Market Wired]

    * Lawyerly Lairs, China Edition: Raymond Li, chair of the Greater China practice at Paul Hastings, just purchased a townhouse for about $95 million. He paid for it in straight cash, homie. [Wall Street Journal]

    * They’re extremely tardy to the party, but if the ABA Section of Legal Education and Admissions to the Bar gets its way, law schools will be subject to random audits of their employment stats. [ABA Journal]

    * It’s a tough job that “can really beat you down,” but an organization called Gideon’s Promise just made it a whole lot easier for law students to secure jobs as public defenders in the South. [National Law Journal]

    14 Comments / / Dec 10, 2013 at 9:04 AM
  • 'My life is so meaningful. Thanks law school!'

    Banking Law, Bar Exams, Biglaw, Crime, Law Professors, Law Schools, Money, Trials

    Morning Docket: 11.15.13

    * Despite the fact that the overall demand for legal work was down by five percent during the first nine months of the year, law firms still raised their hourly rates. Hey, what can we say? Math is hard. [Am Law Daily]

    * After instructing his lawyers not to speak during what he called a “sham sentencing,” Whitey Bulger received two life sentences plus five years. Don’t worry, the appeal won’t be a sham. [National Law Journal; CNN]

    * Attention c/o 2015: the New York City Bar Task Force is considering throwing commercial paper out the window in favor of administrative law. Something something arbitrary and capricious. [New York Law Journal]

    * What is law school for, aside from collecting gigantic mountains of non-dischargeable student loan debt? Apparently it’s for creating a more meaningful life, because with poverty comes clarity. [WSJ Law Blog]

    * In the very near future, you might need a license to conduct business with virtual money like bitcoin. The Brothers Winklevii are probably already preparing their paperwork to file. [DealBook / New York Times]

    5 Comments / / Nov 15, 2013 at 9:09 AM